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Journals / Dumlupınar Üniversitesi İİBF Dergisi / 2025 / Sayı: 16

WEATHER ANOMALY: AN APPLICATION ON BIST 100 AND KASE

HAVA DURUMU ANOMALİSİ: BİST 100 VE KASE ÜZERİNE BİR UYGULAMA

Yusuf Cebeci(KÜTAHYA DUMLUPINAR ÜNİVERSİTESİ)0009-0005-8722-6815
Yersin Serikbolatov(KÜTAHYA DUMLUPINAR ÜNİVERSİTESİ)0009-0007-0414-0456
Mediha Mine Çelikkol(Dumlupınar Üniversitesi Kütahya Sosyal Bilimler Meslek Yüksek Okulu)0000-0001-7876-9483
Pages
1–12
Publication Date
2025-12-30
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The results of the study do not provide evidence regarding the existence of weather effects for both stock market indices.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study investigates the existence of weather effects on investors' decisions.
📊
Key Findings & Data:Many studies have been conducted on the subject since 1993, when this effect was first investigated.
💡
Conclusion & Impact:The results of the study do not provide evidence regarding the existence of weather effects for both stock market indices.
🔬Design:Araştırma Makalesi
📍Scope:2016 Verileri
⚙️Variables:Davranışsal Finans · Hava Durumu Anomalisi · BİST 100 Endeksi

Abstract

This study investigates the existence of weather effects on investors' decisions. Many studies have been conducted on the subject since 1993, when this effect was first investigated. This study aimed to reveal the effects of sunny, cloudy, snowy or rainy weather on the index. BIST 100 and KASE index data on Borsa Istanbul and Kazakhstan stock exchanges and weather information for Istanbul and Almaty cities were collected for the period between 01.03.2016 and 30.12.2022 and the weather effect was investigated for both indices. The Kruskal-Wallis test, which is one of the non-parametric statistical analysis methods, was applied to analyze this effect. The results of the study do not provide evidence regarding the existence of weather effects for both stock market indices.

Özet

Bu çalışmada, yatırımcıların kararlarında hava durumu etkisinin varlığı araştırılmaktadır. Bu etkinin ilk olarak araştırıldığı 1993 yılından günümüze kadar konu ile ilgili birçok çalışma yapılmıştır. Bu çalışmada da havanın güneşli, kapalı, karlı ya da yağışlı olmasının endeks üzerindeki olası etkileri ortaya konulmak istenmiştir. Borsa İstanbul ve Kazakistan borsalarında yer alan BİST 100 ve KASE endeks verileri ile İstanbul ve Almatı şehirlerinin hava durumu bilgileri 01.03.2016 ile 30.12.2022 tarih aralığı için toplanmış ve her iki endeks için hava durumu etkisi araştırılmıştır. Bu etkiyi analiz etmek içinse, parametrik olmayan istatistiksel analiz yöntemlerinden olan Kruskal-Wallis testi uygulanmıştır. Çalışmanın sonuçları, her iki borsa endeksi için hava durumu etkisinin varlığına ilişkin kanıtlar sunmamaktadır.

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Cite This Article

Cebeci, Y., Serikbolatov, Y., Çelikkol, M. M. (2025). WEATHER ANOMALY: AN APPLICATION ON BIST 100 AND KASE. Dumlupınar Üniversitesi İİBF Dergisi, Sayı: 16, 1–12. https://doi.org/10.58627/dpuiibf.1628675

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